English Quiz 27 - Competitive Exams - Banking Exams

Directions
(1-10): Fill the gaps in the passage below with most appropriate word
from the options given for each gap. The right words are the ones used by the
author. Be guided by the author’s overall style and meaning when you choose the
answer.

During the
last thirty years we had (1)economic strategy of
planned growth. This policy continued up to 1991 in which the State had to play
a major role. (2) a period of time, the whole entrepreneurial
abilities of a people were tied down to the (3) of all controls
with a set of regulations and licenses – (4) that the Indian
economy was called a “License Raj”. When you want to produce something, you
need a license, to increase production you need a license, to re-allocate your
resources, you needed a license - every decision was taken by the Babus
(Bureaucrats)) rather than the entrepreneurs (5) And to these
myriads of controls and regulations, the entire productive potential was tied (6)
Liberalization basically meant unleashing the productive potential of people in
terms of reducing the kind of (7) imposed over a period of time (8)
the entrepreneurs. This is the true (9) of liberalization. Over a
period of time in the 1950-60s when the private sector was not developed
enough, it was only to be expected that the Government would need to come in a
big way and take a lead in the industry as a producer. But in (10)
of enthusiasm,

1.
(1) Transformed (2)
Followed (3)
Adopted (4)
Derived (5) Based

2. (1) In
(2) For
(3)
Over
(4) Within (5) Since

3. (1)
Limited
(2)
Myriads
(3) Constraints (4) Fillips
(5) Stimulants

4. (1) So much so (2) So
that so (3) So well
so (4) So that (5)
So for since